Cheap Apartments for Rent in the Thirty-Eighth & Shadeland Neighborhood of Indianapolis, IN from $400 (43 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Thirty-Eighth & Shadeland area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 6609 E 42nd St

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

2 Bedroom, 1 Bath Home for Rent

Available Jun 3

6609 E 42nd St

IndianapolisIN46226

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Emerson Place
1 to 3 Bedroom Apartments

Emerson Place

2110 Emerson Knoll PlIndianapolis, IN 46218
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3825 N Whittier Pl
1 Bedroom Apartments

3825 N Whittier Pl

3825 N Whittier PlIndianapolis, IN 46226
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East Ridge
1 to 3 Bedroom Apartments

East Ridge

2302 N Ritter AveIndianapolis, IN 46218

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226
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1745 N Ritter Ave
1 Bedroom Apartments

1745 N Ritter Ave

1745 N Ritter AveIndianapolis, IN 46218

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Bellagio Living II
1 Bedroom Apartments

Bellagio Living II

8953 Brigadier DrIndianapolis, IN 46226
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Lawrence Landing
1 to 2 Bedroom Apartments

Lawrence Landing

6875 Faris AveIndianapolis, IN 46226
  • Utilities Included
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Braeburn Village
1 to 4 Bedroom Apartments

Braeburn Village

2170 Braeburn East DrIndianapolis, IN 46219
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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226

Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

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Showing Results 1-43, Page 1 of 1

Thirty-Eighth & Shadeland, Indianapolis, IN Local Guide

Cheapest Available Thirty-Eighth & Shadeland Apartments for Rent

 

The cheapest available apartment rental in the Thirty-Eighth & Shadeland area of Indianapolis, IN is a Studio unit found at Franklin Studios priced from $725. Maison Gardens Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $785. Here are the most affordable Thirty-Eighth & Shadeland apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$725
Maison Gardens Apartments1BD R1BR,1BA$785
Kingston Square ApartmentsThe AshStudio,1BA$799
OlivewoodStudioStudio,1BA$800
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$850
The Prairies Apartment Homes1x1 Classic1BR,1BA$909
Apartments @ Marten Court1x11BR,1BA$925
Fountainview ApartmentsOasis1BR,1BA$925
Frederick SquareFrederick Square 2 bedroom2BR,1BA$928
Indy Town ApartmentsFrederick Square 2 bedroom2BR,1BA$928

Best Value Apartments for Rent in Thirty-Eighth & Shadeland, IN

As of May 07, 2026 the best value apartment in the Thirty-Eighth & Shadeland area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Thirty-Eighth & Shadeland apartment is the 2 Bed 1 Bath Model at Brookhaven Apartments starting at $1,050 with a $0.89 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Thirty-Eighth & Shadeland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
60 - ADDISON APARTMENTSAddison Apts - Gorgeous 2 Bed/1 Bath Apt2BR,1BA$0.96
Indy Town ApartmentsFrederick Square 2 bedroom2BR,1BA$0.95
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
The Reserve at Franklin Glenn2 Bedroom 2 Bathroom2BR,2BA$1.30
Park Forest Apartments2BR/1BA2BR,1BA$1.27
Frederick SquareFrederick Square 2 bedroom2BR,1BA$1.05
Jamestowne ApartmentsClassic1BR,1BA$1.38
Maison Gardens Apartments1BD R1BR,1BA$1.32

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Thirty-Eighth & Shadeland, Indianapolis, IN

Ranked #187

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Thirty-Eighth & Shadeland Apartments

What is a cheap apartment in Thirty-Eighth & Shadeland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Thirty-Eighth & Shadeland is under $928.

What is the price of a cheap apartment in Thirty-Eighth & Shadeland?

The cheapest apartment in Thirty-Eighth & Shadeland is Maison Gardens Apartments which is listed at $785, while the average apartment in Thirty-Eighth & Shadeland costs $1,680.

What types of apartments are the cheapest in Thirty-Eighth & Shadeland?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 13 regular apartments in Thirty-Eighth & Shadeland that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Thirty-Eighth & Shadeland?

Cheap apartments in Thirty-Eighth & Shadeland have an average cost of $625 which is $1,055 cheaper than the average rent for all rentals in Thirty-Eighth & Shadeland.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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